GROWTH HACKING THEORY
Faith & Fear Growth Theory Unpacked
How to market with a Growth Mindset
By Kirsty Sharman
In the pursuit of business growth, chances are you’ve been chasing things like engagement, reach, impressions and conversions, without really understanding which ones are best suited to facilitating your ultimate success. Well, we have a new, simplified approach to marketing, and it involves one key principle:
Distribution is more than just a media plan. It’s figuring out the most economical way to get a product into the hands of consumers. Loads of them. And this is where our strength lies.
Through much experimentation (both good and bad) we’ve come to the conclusion that distribution is much more than just a media plan. It requires strategic thinking, a spreadable idea, paid media, distribution formulas, hooks, incentives, referrals, FOmarketing, optimisation… and balls. So much more than the Excel spreadsheets you see thrown around the boardroom.
In fact, we’re not the biggest fans of those spreadsheets. This is not because they only cover 50% of what should be considered in a media plan, but because their structure promotes a fixed mindset.
Distributing content, products and stories in today’s environment requires the exact opposite of a fixed, rigid approach. It requires constant innovation. After all, it’s highly likely that every single one of your competitors is distributing through the same channels, with the same approach and probably a very similar message.
“Having a great idea for a product is important, but having a great idea for product distribution is even more important.”– Reid Hoffman
Faith & Fear aims to help companies distribute everything faster, further, in a more sustainable way. From products to messages and campaigns, followers, revenue, market share, customers, clicks or impressions – we can help you find the best way to grow.
We do this by using a carefully cultivated growth mindset to solve common marketing challenges. Here’s a real-life example:
Imagine your company sells lemons. The best quality lemons on the market too. Your goal is to distribute as many lemons to consumers as possible.
A growth marketing approach involves broader thinking that looks something like this:
- What channels do I have to distribute these lemons?
- What if every person who bought a lemon through these channels had the opportunity to offer their friend a lemon too, as part of a promotion?
- Is there a way to sell even more lemons through these channels?
- What are the best performing channels to sell lemons?
- What other products need lemons and their by-products? Let’s find the top channels that distribute lemon juice, lemon extract and lemonade and offer our lemons to them too.
- Maybe if we distribute more through the best channels, and get a better price, we can use the money we save to re-invest into building our own distribution channel – lemons-direct.com.
- Let’s make sure our lemons are in front of the right people, at the right time – so we become their default lemon brand of choice.
- Let’s create FOMO by releasing limited edition lemons to trendsetters that statistically are more likely to influence others.
Understand now why marketing with a growth mindset is key to winning the distribution war? It’s organic, it’s unique, and it addresses your biggest challenges to business growth in a creative way.
How does your current product, message and campaign distribution strategy measure up to this kind of thinking? If you think it could be better, talk to us.